Charlottesville, VA 22902 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

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Charlottesville, VA—22902

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$490,000

0.0% YoY Growth

Household Income

$91,200

41.2% YoY Growth

Days on Market

44

7.0% Longer YoY

Home Price Forecast

0.0%

Median Rent

$1,950

2.3% YoY Growth

1-Bed Rent

$1,640

5.9% YoY Growth

2-Bed Rent

$1,850

3.2% YoY Growth

3-Bed Rent

$2,650

3.0% YoY Growth

Other Zip Codes in Charlottesville, VA

22901 22903 22911

Home Price Trends — Charlottesville, VA

As of May '26, the median home price in Charlottesville, VA is $490,000, with a year-over-year change of 0.0%. This indicates that home prices in Charlottesville, VA are flat. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$490,000	0.0%
Single Family	$497,000	0.2%
Condos	$382,000	0.3%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Charlottesville, VA

As of July '25, Rentcast reports the average rent in Charlottesville, VA is $2,230, with a year-over-year rent change of 2.3%. Per bedroom, the median rent as of July '25 in Charlottesville, VA is studios: $1,940, 1-bedrooms: $1,590, 2-bedrooms: $1,960, 3-bedrooms: $2,720, 4-bedrooms: $3,140. The most common rental property sizes in Charlottesville, VA are 2-bedroom and 1-bedroom, accounting for 39.0% and 30.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,950	$2,230
Studio Rent	$1,950	$1,940
1 Bed Rent	$1,640	$1,590
2 Bed Rent	$1,850	$1,960
3 Bed Rent	$2,650	$2,720
4 Bed Rent	$2,800	$3,140

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% of Rental Stock

Studio

5.3%

1 Bedroom

30.2%

2 Bedrooms

39.0%

3 Bedrooms

21.0%

4 Bedrooms

4.4%

Property Listings — Charlottesville, VA

As of May '26, Realtor.com reports that the median days on market for a home in Charlottesville, VA is 44. This is a increase of 7.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$530,000	2.0%
Listing Count	184	18.0%
Listings as % of Homes	0.8%	18.0%
Days on Market	44	7.0%

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Demographics — Charlottesville, VA

As of the latest ACS Survey released in 2023, Charlottesville, VA has a population of 24,400, which has remained stable by -0.6% over the past 5 years. Charlottesville, VA is a moderately popular place for families, as children make up 18.9% of the population. The area has a highly educated workforce, with 56.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	24,400	-0.6%
% Under 18	18.9%	1.1%
% Seniors	14.9%	16.4%
% WFH	19.3%	216.4%
% w/ College Degree	56.9%	22.4%

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As of the latest ACS Survey released in 2023, Charlottesville, VA is a predominantly white area, with 68.7% of the population identifying as white. The white population has grown by 0.1% in the last 5 years. The second most common race or ethnicity in Charlottesville, VA is black, making up 11.7% of the population. Foreign-born residents account for 12.2% of the population in Charlottesville, VA, and this percentage has increased by 15.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	68.7%	0.1%
% Black	11.7%	-24.5%
% Hispanic	11.3%	15.3%
% Asian	5.0%	38.9%
% Foreign Born	12.2%	15.1%

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Mortgage and Risk — Charlottesville, VA

According to HUD data as of 2023, there were 356 mortgage originations in Charlottesville, VA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Charlottesville, VA. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	356
% Conventional Loans	90.0%
% Government Loans	10.0%
% Investor Loans	2.0%
% Second Loans	2.0%
% Cash Out Refinance	6.0%

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Rentals and Section 8 — Charlottesville, VA

As of 2024, the percent of homes in Charlottesville, VA under the Section 8 program is 11.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Charlottesville, VA, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom units do not.

Section 8 Market Size

Total Units under HUD	821
Total Units Section 8	639
% Rentals under Section 8	11.5%
% Occupied Section 8	84.6%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$40	$1,640	$1,600
2 Bedroom	$10	$1,850	$1,860
3 Bedroom	-$330	$2,650	$2,320
4 Bedroom	$20	$2,800	$2,820